Assa Abloy acquires Brazilian firms

Assa Abloy has signed an agreement to acquire Silvana, a leading lock company, and has acquired Metalika, a leading steel fire door company, both located in Brazil. The acquisitions significantly increase the Group’s footprint in Brazil. Silvana and Metalika represent the Group’s first major acquisitions in the large Brazilian market. Silvana established in 1964, is located in Campina Grande, Paraiba, in northeastern Brazil. Metalika, established in 1999, is located in Sao Paulo, Brazil. Together they double Assa Abloy’s existing presence and add approximately 410 employees. Sales for Silvana and Metalika are expected to reach a combined BRL 85 M (approx SEK 250 M) in 2015 with good EBIT margins. The acquisitions will be accretive to EPS from start. The acquisition of Silvana is expected to close during Q4 2014.

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